PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0652%/8h= −71.3% APRnext payment −$0.81 per $10,000 · paid last 24h +0.008%

Price spread now: Kraken Futures against Pacifica+0.107%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$780.779% of the position

Long on Pacifica Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 3 days (all we have)−0.085%−$9 · spread now +0.107%, 7d avg +0.071%

Together, before fees−0.021%+ Points / potential airdropPacifica: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.036% dearer against Pacifica than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of +0.071%): +$4 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 4 hours. Mind the row above: over the last 7 days funding on this pair paid +0.064%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.81 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PENGU	0.008664	0.0100	pay 0.0013% / 1h	8m 41s	$146K	$236K	5x
Short	Kraken Futures PF_PENGUUSD	0.008673	−0.0552	pay 0.0069% / 1h	8m 41s	$384K	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PacificabpFee Kraken FuturesbpOrdersPrice spread, now +0.107%Rate

Funding earned: −$136.82
Price spread: +0.107% → +0.071%: $3.58
Slippage, 4 orders: −$59.89
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$211.13
Costs to cover: 0.779%
Break-even: never at this rate

Slippage from Pacifica: live order book, 14 min ago; Kraken Futures: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Pacifica live order book, 14 min ago	2.87 bp	22.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	9.81 bp	26.4 bp −$26	49.5 bp −$495	doesn't fit	doesn't fit

PENGU on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_PENGUUSDshort	−0.0552%	1h	0.008673	+0.107%	$384K	$2.1M	50x
Deribit PENGU_USDC-PERPETUAL	−0.0442%	1h	0.008667	+0.035%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0284%	4h	0.008661	−0.035%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.589%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0047%	1h	0.008665	+0.012%	$309K	$314K	10x	as long as short
Bybit PENGUUSDT	−0.0015%	4h	0.008655	−0.104%	$22.5M	$36.0M	75x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008661	−0.035%	$198	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008672	+0.090%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0015%	1h	0.008674	+0.113%	$11K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008663	−0.012%	$297K	$723K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008669	+0.052%	$673K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008667	+0.035%	$8.6M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008669	+0.053%	$171K	$448K	20x	as long as short
Pacifica PENGUlong	+0.0100%	1h	0.008664	long leg	$146K	$236K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008661	−0.036%	$35.8M	$151.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008657	−0.081%	$7.7M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008660	−0.046%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008662	−0.023%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008663	−0.012%	$4.7M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008667	+0.035%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008651	−0.150%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008647	−0.199%	$799K	$726K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008679	+0.173%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008677	+0.150%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008669	+0.058%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008875	+2.435%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008665	+0.012%	$989	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008688	+0.277%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008659	−0.062%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008665	+0.012%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008665	+0.007%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008676	+0.139%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008670	+0.069%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008699	+0.404%	$93K	$97K	50x	as long as short